It’s always a good idea to save money and live frugally when and where you can. To save money, you usually can substitute most of the everyday brand items you use with generic products, shop at secondhand stores and garage sales, and make them yourself.
However, there are a few important items that you shouldn’t cut corners on when buying them. High-quality products can be pricey up front, but they last much longer than a discounted or knock-off item, which saves you money and hassle in the long run. Not to mention it cuts down on your waste and helps you live simpler and better. When shopping for these items, it makes sense to spend for quality instead of saving money short term.
Transportation
Whether you’re in the market for a car, motorcycle, bike or other mode of transportation,paying for quality can save you a lot of money in the long run. A vehicle with low miles and up-to-date maintenance costs more than a high-mileage or beat up car, but the maintenance and upkeep costs for the latter could be astronomical. This doesn’t mean you need to buy a Lexus or other luxury car, but do your research and find a car with high safety ratings, low mileage, gas efficiency and easy maintenance. It might be a little more expensive, but it will be worth it in the long run.
Self-Improvement
A recent post from the blog I Will Teach You To Be Rich describes a saving method that is hard for a lot of people to grasp. The author suggests setting aside a specific amount of money each month that you must spend on self-improvement. It may feel difficult at first to actively think of something to buy when your instincts tell you to save, but think about it as an investment in yourself and consider what return you’ll get. This doesn’t mean buy $50 shampoo or some designer sunglasses, but rather invest in something like an educational book or a weekend class. These are purchases that are sure to get you a return as long as you dedicate yourself to them. They may even give you ideas for other interests or skills to invest yourself in.
Clothing (Sometimes)
You may think that you should always buy brand-name, high-quality clothes, but this is only true to a point. While buying a ton of $5 clothing items may be fun, they will rip, shrink or fade in just a couple months and you will have to buy more clothes. This can be a vicious cycle.
Brand-name clothing tends to be made better and stronger, so it lasts much longer and usually fits better. However, you have to be smart when choosing which items to spend on. Classic everyday staples like jeans, work clothes and shoes should always take precedent over trendy pieces that will go out of style, extravagant accessories or rarely worn items like party dresses. Also, you pay for quality when it comes to performance gear like running clothes, tennis shoes and winter coats.
Kitchen Gear
Pots and pans, knives and some small kitchen appliances are some of the most-used items in your house, so it is worth it to spend money on products that will last a long time. Even the cheaper versions of some cooking gear and gadgets can be expensive, so it’s important to buy items you can trust to last. Research reviews of items before you purchase them to see what chefs and other home cooks recommend using. Buy from a kitchen supply store or reputable online dealer like Amway to make sure you’re getting a quality item that will work for you for years.
Home Upgrades
Updating your home with high-quality products can save you money as well as increase the value of your house. Exterior materials should be especially durable as they take the most elemental damage. You should also spend money on energy-efficient items like windows andEnergy Star appliances. These may cost a little extra, but they will last a long time and save you money by cutting your electricity bills and other home costs.
